Property Listing
Description
Here is a unique investment opportunity. This 3 building, 16 plex consists of an 8 unit and 2 - 4 unit buildings. Each are 2 bedroom, 1 bath apartments with a common entrance for each building. Rent is currently below area rate as this complex was financed by several community minded people with rent control financing to provide low cost housing in the community. The rent control contract has expired and the owner group would like to pass on the management to someone else. Since the expiration of the contract, rent has been increased for new tenants. The property contains a large area that would allow for a 4th building to be constructed. Offers must be delivered to the listing agent by July 15, 2026 at 5:00pm Central Standard Time. Listing agent will hold all offers as "sealed" until the next meeting of the Board of Directors. At such time, the board shall open and duly consider each offer presented. The Board reserves the right to decline, accept, or counter any offer. The Board also reserves the right to call for "highest and best" between competing offers. The final acceptance of a Purchase Agreement shall be at a date, not specified here, at the direction of the Board. Final closing date shall be negotiated between the Seller and Buyer. All 16 apartments are Section 8 eligible.
Property Information
Status: Active
Sub Type: ********
List Price: $500,000
MLS#: 7074045
Current Price: $500,000
Address: ********
City: Henning
State: MN
Postal Code: 56551
Geo Lat: ********
Geo Lon: ********
Subdivision: 01143-ORIGINAL PLAT-HENNING
County: Otter Tail
Property Description
Year Built: 1978
Lot Size SqFt: 67518
Gen Tax: 7069.06
Specials Inst: 0
High School: Henning
Square Ft. Source:
Above Grade Finished Area: ********
Below Grade Finished Area: ********
Below Grade Unfinished Area:
Total SqFt.: 12422
Style: ********
Total Bedrooms: 32
Total Bathrooms: 16
Total Full Baths: ********
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Foundation:
Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: Building, Inventory, Land, Leases
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